The History of the US Monetary System in 60 minutes

The History of the US Monetary System in 60 minutes [ 1:01:42 ] Play Now | Play in Popup | Download

In this fiery show we examine the history of money and banking in the United States; from Alexander Hamilton to Andrew Jackson to President Obama.

We look at what the U.S. Constitution says about inflationary paper money and the economic stabilization the Founding Fathers hoped to accomplish with sound money at the convention in 1787.

Sadly, Thomas Jefferson ended up leaving his federal post over the topic of banking – he let the bankers win because no one would listen to him.

We highlight the influence the Bank of England upon our current system and the purported connections between it and our Federal Reserve [central bank].

We talk about the different experiences our nation has had with fiat money, and the results of a gold or bimetal (gold/silver) backed monetary system.

The question of the night is, if you could create money, how long could you stay virtuous? Listen to this show and answer that for yourself!

Nuclear Proliferation and You

Nestled inbetween the frantic debate sessions surrounding the 700 Billion Dollar Wall Street Bail-Out bill, there was additional legislation that was making it’s way through the senate. Having already passed the House with an 298-117 vote last saturday, the senate was set to debate and then pass the culmination of over two years of talks between India and the United States.

The treaty that in the end passed the US Senate with a 86-13 vote, sends mixed signals to our allies and enemies around the world. This treaty allows for the selling and sharing with India much of our Nuclear Power Generation technology that is traditionally not permitted to be transported outside the US, unless it is going to a country with which we have a similar relationship.

This treaty will go a long way to helping India maintain and expand its technological marketplace which is placing an ever larger strain on the current power resources, that are having difficulty keeping up with the demand, seeing as demaind is growing at a rate of approximately 9%/year. This can be a major boon for them, as it provides some cheap energy sources for india to tap into while they develop more of their country.

So what does this mean for US business interests? While some of the nations largest banks are seeking to receive live preserving sustinance from the apparent nurse maid of the economy. Many other businesses are gearing up to profit from the multi-billion dollar deals that will be created as a result of this treaty being signed. Which could be a great boon for the average employee of a giant electronics firm like GE, but what did we comprimise to get it? Will the agreement, and the ultimate proliferation of Nuclear Weapons throughout India be the cause of greater conflicts between India and their Red Headed neighbor Pakistan? Will this be worth the price that we may ultimately pay for encouraging this action? I guess only time will tell.